ExpertOption is one of the few remaining online binary options brokers. Today, binary options are illegal in almost every jurisdiction, and also most traders know to avoid them.
ExpertOption has a registration in Saint Vincent and the Grenadines, a popular offshore haven. Above all, this allows them to avoid the strict rules against binary options that most other regulators have.
So, what do we know about ExpertOption and its customers? Well, the company currently operates under two domains – expertoption.com and expertoption.finance. Its owner, EOLabs LLC, still has its headquarters in Saint Vincent and the Grenadines. It’s an offshore island without the legal supervision of FX, CFD, or binary options brokers. Hence, it attracts many illicit companies.
The clients that this broker and its offer most attract come from the following countries:
There’s a good reason why European and Australian authorities prohibited this type of investment. The broker requires customers to predict market events within a minute, or sometimes even less. Knowing that assets are rather volatile, especially in times of financial crisis, the majority of clients lose their funds. Be quite careful when choosing your broker and even more cautious when selecting the trading type. A lot of your potential profit will depend on it.
Higher deposits give access to higher account types. These higher accounts offer traders the option to have more positions open at the same time.
Gold and also Platinum accounts increase the payout percentage, similar to reducing spreads for forex or CFDs.
Like most binary options brokers, ExpertOption also gives traders access to a simplified web platform. Investing in binary options involves betting on whether an asset’s price will go up or down.
As such, there aren’t many complex options needed in a binary options platform. There isn’t much more than the chart and the up and down buttons.
There are demo accounts available, with $10,000 in virtual funds to explore the platform.
Many online reviews are criticizing ExpertOption for withholding withdrawals. Former clients say they have had significant trouble withdrawing funds.
They say that the broker has an unnecessarily complicated verification process and that they often reject documents for no apparent reason.
If you’ve put down money with a binary options broker and can’t withdraw your funds, contact us today to look into your options for a chargeback.
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